Aerocast Inc.

Aerocast Inc.

March 14, 2008 20:26 ET

Aerocast Inc. Announces Closing of Initial Public Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2008) -


Aerocast Inc. (the "Company") is pleased to announce that it has completed its initial public offering with gross proceeds to the Company of $900,000. A total of 3,000,000 units of the Company's securities were issued at a price of $0.30 per unit pursuant to a prospectus of the Company dated February 22, 2008. Each unit consists of one common share and one share purchase warrant exercisable for a one year term at $0.40 per share. The Company has applied for listing of its common shares on the Canadian Trading and Quotation Systems Inc. ("CNQ") stock exchange.

Canaccord Capital Corporation acted as agent on the IPO. In connection with the offering, the Company paid agent's commissions equal to $81,000, a corporate finance fee of $50,000 and 100,000 common shares, an administration fee of $5,000, 270,000 agents' warrants and agent's expenses. Each agent's warrant entitles the holder to purchase one common share of the Company for a two year period at a price of $0.40 per share.

Subject to the fulfillment of all CNQ requirements, it is expected that the Company's common shares will commence trading on the CNQ on or about March 19, 2008 under the trading symbol "AERO".

The Company has established a foundry operation in Nogales, Mexico, for the purpose of manufacturing complex aluminum and magnesium alloy castings primarily for the aerospace industry. The Company's objective is to acquire additional equipment and materials and engage workers for the Company's facility which, once fully operational, is expected to have much lower labour rates than those of competing US, Canadian, and European aerospace foundries. Bob Jamieson, President and Director, is a journeyman pattern maker and has over 30 years experience in the aerospace foundry industry.

The CNQ Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.

Contact Information

  • Aerocast Inc.
    Enna Keller
    (604) 422-1428
    Email: enna.keller @